FireFly Metals Ltd. — Investor Presentation 2022

Sep 12, 2022

ASX: AUT

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ADVANCING THE HIGH-GRADE PICKLE CROW PROJECT IN ONTARIO, CANADA

2.2 Moz of Gold at 7.8g/t and Growing Rapidly

DARREN COOKE CHIEF EXECUTIVE OFFICER (Presenter) RAY SHORROCKS EXECUTIVE CHAIRMAN

13 SEPTEMBER 2022

DISCLAIMER & CAUTIONARY STATEMENTS

DISCLAIMER

This presentation has been prepared by Auteco Minerals Limited (the Company) based on information from its own and third party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submission, dispatch or provision of this presentation, or takes any responsibility for, or makes or purports to make any statements, representations or undertakings in this presentation. Except for any liability that cannot be excluded by law, the Company and its related bodies corporate, directors, employees, servants, advisers and agents (Affiliates) disclaim and accept no responsibility or liability for any expenses, losses, damages or costs incurred by you relating in any way to this presentation including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused, lack of accuracy, completeness, currency or reliability or you or any other person placing any reliance on this presentation, its accuracy, completeness, currency or reliability. This presentation is not a prospectus, disclosure document or other offering document under Australian law or under any other law. It is provided for information purposes and is not an invitation nor offer of shares or recommendation for subscription, purchase or sale in any jurisdiction. This presentation does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. Each recipient must make its own independent assessment of the Company before acquiring any shares in the Company (Shares). The Company has made reference to historic drilling and exploration results from a variety of exploration companies over the past 60 years that had previously explored the Project.

References to previous ASX announcements should be read in conjunction with this release. The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation.

FORWARD LOOKING INFORMATION

This document contains forward looking statements concerning the Company. Forward-looking statements are not statements of historical fact, and actual events and results may differ materially from those described in the forwardlooking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on the Company’s beliefs, opinions and estimates of the Company as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. Although management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of commodities, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. No representation, warranty or undertaking, express or implied, is given or made by the Company that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur.

NO NEW INFORMATION OR DATA

This Presentation contains references to Mineral Resource estimates, all of which have been extracted from the Company’s ASX announcement titled “Resource increases by 500,000oz to 2.23Moz at 7.8g/t” and dated 15 February 2022. All future references in this presentation that relate to the Mineral Resource Estimate should be read in conjunction with the aforementioned ASX release. The Company confirms that it is not aware of any new information or data that materially affects the information included in that ASX announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate (Inferred Resource – 8.9 Mt @ 7.8 g/t gold for 2.23M ounces of gold) in that announcement continue to apply and have not materially modified. A breakdown of the Resource is set out in this Presentation.

This Presentation also contains references to certain Exploration Results that were first reported in accordance with ASX Listing Rule 5.7 in the Company's announcements of 28/01/2020, 26/03/2020, 01/09/2020, 11/11/2020, 19/01/2021, 7/04/2021, 16/06/2021, 15/07/2021, 2/08/2021, 5/10/2021, 2/12/2021, 18/1/2022, 3/5/2022 and 23/6/2022. Auteco confirms that it is not aware of any new information or data that materially affects the information included in the original announcements. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

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THE FLAGSHIP PICKLE CROW ASSET

Pickle Crow has one of the highest grade +2Moz Resources GLOBALLY in addition to significant district-scale DISCOVERY potential

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THE LOCATION

Northern Ontario, Canada

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THE ASSET Historic Pickle Crow Mine

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THE FUTURE

Resource Growth & Discovery

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Tier one jurisdiction with year-round access from Thunder Bay (400kms)

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Historic UG production of 1.5Moz at 16.1g/t gold (1935 – 1966); Infrastructure

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Resource of 2.23Moz at 7.8g/t gold , discoveries made on 500km[2 ] of claims

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CORPORATE OVERVIEW

A Canadian-focused ASX listed company with one of the highest grade +2 Moz Resources Globally

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CAPITAL STRUCTURE
ASX Code AUT Current Market Cash
Shares on issue 2.1B Share Price [1] Capitalisation [1] Position [2]
248M A$0.048 ~A$91M ~A$17.4M
Unlisted options & performance
rights
Top 20 Shareholders 63%
$0.20
SHAREHOLDER SUMMARY
Board and Management 16% $0.15
(on a fully diluted basis)
Australian & Global Institutions 39%
$0.10
Substantial Shareholders
•
1832 Asset Management 12.9%
• $0.05
Franklin Resources, Inc. 6.2%
•
Campbell Kitchener Hume & Assoc. 5.5%
•
Symorgh Investments 5.2% $-
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1. Indicative as at market close on 1 September 2022
Volume (Millions)
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1. Balance net of payables as of 30 June 2022.

BOARD & MANAGEMENT TEAM

A leadership team with management DNA and experience in some of the most successful resource sector stories in the past decade, including Bellevue Gold and Northern Star

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• 27 years’ experience working in the investment banking industry, highly conversant and experienced in all areas of mergers and acquisitions and equity capital markets.

• Significant track record of transactions in the metals and mining sectors

• Previous Chairman of Bellevue Gold

Ray Shorrocks – Executive Chairman

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• Geologist with 25 years’ experience having previously held senior positions in global majors including Barrick Gold, Newmont and Northern Star Resources

• Extensive gold industry experience in Australia and North America spanning regional and near mine exploration, operational geology, long-term planning and corporate development

Darren Cooke – Chief Executive Officer

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• Experienced geologist with a proven track record of mineral discoveries, corporate growth, international investor relations and creating shareholder wealth

• Founder and former Managing Director of Gryphon Minerals

• Founder and Managing Director of Bellevue Gold

Steve Parsons – Non-Executive Director

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• 26 years’ experience in corporate advisory and public company management since commencing his career and qualifying as a chartered accountant

• Involved in the financial management of mineral and resources focused public companies serving on the board and in the executive management teams.

• Non-Executive Director of Bellevue Gold

Michael Naylor – Non-Executive Director and Joint Company Secretary

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• Chartered Accountant with over 13 years’ experience in the mining industry, including 8 years in the gold sector.

• Involved in the accounting and financial management across exploration activities, development projects and operating assets.

• Previously the Financial Controller of Australian gold producer Regis Resources Limited.

William Nguyen – Chief Financial Officer and Joint Company Secretary

• 20 years’ experience in mining related projects in Canada. Specialising in environmental management and community liaison, she holds a Bachelor of Science with double major in Environmental Science and Anthropology.

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• Expert in both federal Canadian and Ontario provincial government permitting requirements for mining projects.

• Former Manager of Sustainability at Generation Mining Ltd

Tabatha LeBlanc – Vice President – Environment & Community

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ENVIRONMENTAL, SOCIAL AND GOVERNANCE

Sustainability is at the forefront

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ENVIRONMENT AND BIODIVERSITY

• Knowledge gathered through studies & relationships between people, community and land form:

• Decisions and workplans to preserve and promote healthy ecosystems to maintain biodiversity

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2020
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• Build on the current understanding of baseline environment and traditional land uses

• Minimise disturbance of land avoiding culturally, spiritually and biologically sensitive areas

• Progressive reclamation of exploration sites, trails and other areas no longer in use

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2022
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HYDRO POWER GREEN ENERGY

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• The First-Nation owned Wataynikaneyap hydro power project line runs through the Pickle Crow property

• Ample clean energy is available for future projects

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PEOPLE, COMMUNITY AND CULTURE

• Pickle Crow is located within the Traditional Territory of Mishkeegogamang Ojibway First Nations (MOFN)

• Memorandum of Understanding with MOFN

Building capacity in local communities, committed to workforce diversity, and advancing a culture of inclusion:

• Indigenous employment 30%

• Policies and programs reflect our commitment

• Woman representing 30% of the workforce with • Mentorship, sponsorship and participation of MOFN with activities 38% in supervisory level or higher

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• Indigenous employment 30%

• Woman represent 30% of the workforce with 38% of supervisory level or higher positions

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AUTECO ORGANIC GROWTH STRATEGY

A dual strategic focus to unlock the full potential of the Pickle Lake Greenstone Belt

AuTECO ORGANIC GROWTH STRATEGIC PILLARS

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REGIONAL DISCOVERY

Discover and develop deposits on the 500km[2] of regional exploration tenure outside of Pickle Crow, Unlock the camp-scale potential of the Pickle Lake greenstone belt

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NEAR-MINE GROWTH

Discover and define mineralisation proximal to the historic Pickle Crow deposit, continue to grow the 2.2Moz Resource and advance toward production

If mineralisation is present, test continuity and potential to define Inferred Resource

If mineralisation is present, test Conduct planning and permitting TEST PATH TO continuity and potential to define activities to advance towards CONTINUITY PRODUCTION Inferred Resource production Infill drill and continue to grow Test conceptual targets with DRILL RESOURCE the Resource, define size of the drilling, update geo models TEST GROWTH prize Discover new mineralisation Collect early-stage data to TARGET DISCOVER & generate conceptual targets GENERATION DEFINE and identify extensions

Infill drill and continue to grow the Resource, define size of the prize Discover new mineralisation and identify extensions around Pickle Crow

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PICKLE CROW GEOLOGICAL SETTING

World-class setting in the prolific Superior Craton

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CONTINENT TECTONIC ELEMENT PROVINCE
Laurentia
North
Superior
America
Craton
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Uchi Subprovince

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REGION
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DEPOSIT Pickle Lake Pickle Crow Greenstone & Central Belt Patricia

BASEMENT GEOLOGY OF THE WESTERN SUPERIOR CRATION[3]

THE UCHI SUBPROVINCE

One of the best gold addresses globally

• Located in the prolific Uchi Sub province of the Western Superior Craton

• Archean Granite – Greenstone terrane that hosts significant gold deposits, including:

• Red Lake (Evolution Mining)

• Musselwhite (Newmont)

• Springpole (First Mining)

• Madsen (Pure Gold)

• Dixie (Great Bear)

• West Red Lake (West Red Lake Gold)

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1. Source: Modified from Superior Craton Basement Geology 1:2M Scale, MERC Laurentian University, 2018

TWO DISTINCT STYLES OF MINERALISATION

Bulk and narrow mineralisation styles have the potential to provide future operational flexibility

• 2021 DRILL

• HIGHLIGHTS

• • 20.4m @ 5.3 g/t

• • 19.5m @ 3.3 g/t

• • 10.5m @ 3.6 g/t

• • 14.9m @ 2.2 g/t

• • 36.7m @ 1.5 g/t

• • 25.2m @ 1.3g/t

• • 6.0m @ 5.8g/t

• Overlooked in previous exploration activities ALTERATION • Broad zones of sulphide mineralisation (to +20m) (BIF) HOSTED • Typically hosted in BIF and lesser Porphyry • Amenable to Bulk Mining (Both Open pit & UG) Dec 2021 Resource • This type of mineralisation was mined at 2.5Mt @ 3.8g/t for o Musselwhite (Newmont, +5Moz), 150km from PC 300koz o Dona Lake (MEK, 0.5Moz), Central Patricia (0.67Moz)

2021 DRILL • Source of historic production at Pickle QUARTZ VEINS HIGHLIGHTS Crow ( 1.5Moz @ 16.1g/t ) • 7.3m @ 33.3 g/t • • High-grade narrow veins, coarse gold , 2.0m @ 68.3 g/t • low sulphide content 2.1m @ 31.8 g/t • • 3.3m @ 15.9 g/t Dec 2021 Resource Consistent veins with internal high-grade • 2.8m @ 17.9g/t 6.4Mt @ 9.3g/t for plunging shoots, multiple orientations • 4.1m @ 11.0 g/t 1,920koz • • Amenable to Selective Mining 1.8m @ 21.2 g/t

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NEAR-MINE GROWTH

Exceptional progress pointing to a significant Resource increase

RECENT DRILLING CONTINUED WITH THE NEAR-MINE RESOURCE GROWTH STRATEGY

• 2 discoveries in 2021 (Tyson, Carey) set the platform for 2022

• Recent exceptional results outside of the current 2.23Moz Resource point to continued growth. Results[4] included:

• 7.8m @ 17.0g/t gold (Tyson)

• 1.6m @ 73.2g/t gold (Shaft 3)

• 1.2m @ 37.5g/t gold (Tyson)

• 0.3m @ 134.0g/t gold (Tyson)

• 19.5m @ 3.3g/t gold (BIF)

• The Resource remains open

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Map from ASX release dated 3 May 2022

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1. See ASX announcement dated 3 May 2022 titled ‘Exceptional gold hits in near mine and regional drilling’

RAPID LOW-COST GROWTH OF A GLOBALLY SIGNIFICANT RESOURCE

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OPEN
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RESOURCE ESTIMATE AT 31 DEC 2021

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RESOURCE DRILLING HAS FOCUSED ON EXTENDING KNOWN VEINS AND DISCOVERING NEW STRUCTURES IN THE TOP 500 METRES

• Mineralisation continues at depth beneath the historical workings, with the deepest intersections exceeding 1,000m below surface

1.2 Moz of Resource Added In 16 Months For A$17.58 (US$12.59) per ounce

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• Further Resource development will involve reestablishing access to the underground mine for infill drilling

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RE-ESTABLISHING UNDERGROUND ACCESS

EXISTING WORKINGS COMBINED WITH NEAR-SURFACE MINERALISATION PROVIDES OPTIONALITY

REHABILITATE HISTORICAL SHAFTS

EXPLORATION DECLINE FROM SURFACE

OPEN PITS WITH DECLINE

Strip and line historical shafts, reMine an exploration decline from establish headframe & winder surface to establish infill drill position

Mine an open pit on the bulk and vein mineralisation and establish an exploration decline from the base

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ECONOMIC TRADE-OFF STUDIES FOR EACH OPTION ARE IN UNDERWAY

• Open pit optimizations on the Inferred Resource model indicate potentially economic open pit mineralisation (BIF and vein-hosted)

• • The historical 750ft level (228m below surface) links all three shafts and work areas

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AUTECO HAS AN ENTIRE MINERAL DISTRICT

The bigger picture beyond the Pickle Crow Deposit

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HISTORIC AND RECENT DRILL RESULTS OUTSIDE OF PICKLE CROW DEMONSTRATE CAMP-SCALE POTENTIAL

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EARLY-STAGE TARGETS OUTSIDE OF THE 2.23MOZ RESOURCE

Significant near-mine growth potential

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INITIAL 2021-2022 WINTER RESULTS INDICATE STRONG POTENTIAL FOR SIGNIFICANT DISCOVERIES

• Key concepts proven

• Winter is the best season for drilling in Northern Ontario

• • Regional exploration will accelerate from October through April

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FORWARD WORK PLAN

Continuing to advance and grow Pickle Crow at all levels

Extend and increase the Resource with emphasis on both open pit and underground growth potential

Resource Growth

Continue the dual strategy of Near Mine Resource growth and Regional Discovery focused exploration

Exploration & Drilling

Complete works and long lead time items that advance the project towards production in anticipation of success

Pathway to Production

2022 KEY OBJECTIVES

• Continue to grow the Inferred Resource

• • Identify areas for conversion to Indicated

• • Re-model the orebody at a 0.5g/t COG to assess bulk mining potential (OP & UG)

• Complete an additional 50,000m drill campaign

• • Continue with BIF exploration to define size

• • Continue vein exploration

• • Test >5 regional targets outside of mine area

• Continue permitting to Advanced Exp

• • Option study to access UG for infill drilling

• • Conduct optimisations to assess pit potential

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AUTECO – A COMPELLING INVESTMENT OPPORTUNITY

In Summary

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AuTECO has built a strong platform for future growth, having advanced the historic Pickle Crow
gold project to be one of the highest-grade emerging +2Moz Resources Globally
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Work will continue to explore, define and grow the asset

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LOCATION
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One of the best mining addresses in the world

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THE ASSET UPSIDE
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A long history of delivering Exceptional exploration high-grade gold targets and strong drill results to date

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ENVIRONMENT
COMMUNITY &
SOCIAL
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Demonstrated commitment to the environment and community

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CORPORATE &
TEAM
Well funded to deliver with
a quality experienced team
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• • Pickle Crow has a long Operating in a stable Tier 1 history of high-grade gold

• mining jurisdiction (Ontario, mining, 1.5Moz @ 16.1g/t

• Canada) produced (1935-66)

• Located in a prolific mineral • Independently estimated belt with >40Moz gold Resource of 2.23Moz at 7.8g/t

• endowment (Superior Au

• Craton, Uchi Sub-province)

• Year-round access with quality Infrastructure and a large regional land holding

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• Limited modern systematic camp-scale exploration conducted by previous owners

• Promising near mine drill results to date, demonstrating extensions to known structures and discovery of mineralised vein arrays

• Historical data highlights

• regional potential, with km-scale mineralised trends - limited testing

• •

• Hydro power runs through the Healthy cash balance to deliver property growth ($17.4M at 30 June

• • 2022)

• Strong community relationships •

• and partnerships 50km drill program in progress,

• • 4 rigs on site

• Over 38% of supervisory positions and higher are filled by females

• Corporate & management team with experience, expertise and a track record of delivery

• 30% of employees are First Nations

• Experienced, talented and established team on the ground in Canada

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